'ROI in Bangladesh higher than neighbours'

Momen tells Chinese cos

Return on investment (ROI) in Bangladesh is much higher than its neighbouring countries, Foreign Minister Dr A K Abdul Momen told a delegation of the Hong Kong-based Chinese Manufacturers' Association (CMA).

He was briefing the 24-member CMA team on investment opportunities in Bangladesh at the Ministry of Foreign Affairs in the capital on Thursday.

"We guarantee you that our government is committed to take all necessary steps to protect your investment," Dr Momen told the delegation, led by CMA President Dr Dennis W P NG.

The government is providing required infrastructure to encourage foreign direct investment (FDI) in the country, he added.

The minister assured the team that Bangladesh has an ideal investment climate along with conducive trade and investment policies.

"I can guarantee that your investment in the country will be a win-win situation for both Bangladesh and China."

Dr Momen also informed them about Bangladesh's recent advancement in IT and software sector, and said the country has one of the fastest growing pools of software freelancers in the world.

He mentioned that the government aims at raising software export of the country to US$ 5.0 billion by 2020.

Bangladesh has 130 million mobile users, of which 60 million use smart-phones, he added.

The foreign minister also pointed out that being the second largest garments exporter, the country is now concentrating on diversifying its export basket.

He noted that since Bangladesh has a very competent private sector, foreign investors can get the benefit of using their expertise, if they set up joint venture projects here.

Briefing the Chinese team about the benefits of investing here, Dr Momen said Bangladesh offers full repatriation of profit.

"Moreover, we are holding talks on signing free trade agreements with several countries, like - China, Indonesia, Sri Lanka and Malaysia, which will also create opportunities for foreign investors," he added.

Top officials of the Bangladesh Investment Development Authority, the Bangladesh Export Processing Zones Authority, and the Bangladesh Economic Zones Authority were also present in the meeting. They made presentations on the activities of their respective organisations.

Later, the minister told newsmen that red-tapism and corruption are common impediments to investment everywhere across the world.

Despite various hurdles, Bangladesh managed to maintain a growth in FDI last year, whereas many countries experienced fall in this regard.